The Otonomist — October 2021 Issue
We’re moving our Otonomist release date to the last Thursday of every month. That way we can talk about what we’ve done over the month instead of announcing what we’re going to do!
We work in 3-week code sprints and allow a week for testing, deploying new features at the end of each calendar month. For October, we added DAOs to otoco.io, giving users the choice between onchain LLCs and unincorporated organizations for their project. We also talk about who’s in and who’s out in Otonomos’ jurisdiction popularity contest, share the legal stack (including FREE legal dox!) for the OtoCo Foundation, and announce the proposed inflation model for our OTOCO token. Have an introspective Fall!
Han, Founder & CEO, Otonomos
And the Winner Is…
10 months into 2021, we have enough data to share the most popular places where Otonomos clients have set up their crypto entities.
As you’d guess, lots depends what they’re working on.
The OtoCo Foundation: A Decentralized Coordination Mechanism for All OTOCO Token Holders
In our May newsletter, we outlined our proposed governance for the OtoCo project.
We introduced a Foundation as the key entity to coordinate the wishes of the community of token holders.
In this post, we detail the OtoCo Foundation’s setup and proposed governance, including the draft Bylaws and ancillary enabling resolutions, effectively the “legal software” which guarantees the transmission of the token holders’ collective wishes into real-world action.
You Can Now Use OtoCo to Spin Up Your Decentralized Autonomous Organization
Once spawned from the OtoCo DAO smart contract, users can open a digital asset wallet for their DAO, label it using ENS domains, spin up ERC20 tokens, and generally manage their DAO from the OtoCo Dashpanel by simply connecting their Ethereum wallet.
The OTOCO Token: Capped or Uncapped Issuance?
As of today, 28 October, we have over 100 stakers waitlisted to receive over 1.35 million OTOCO tokens for an aggregate value of over three quarters of a million dollars.
Up to the end of the pre-order process, which is entirely run by smart contract, anybody can add themselves to the waitlist and lock in the price at which they will receive their OTOCO tokens.
The genesis mint of OTOCO tokens will then be distributed and from that moment on, the number of newly minted tokens will be a direct function of how much users spend in the OtoCo platform and its dAppstore.
Next month: Look out for The Otonomist (twice postponed) premium issue on crypto hedge funds: where to launch, how to structure fees, if and how to benchmark performance, what investors expect, and plenty downloads. Now in your inbox every last Thursday of the month.
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Originally published at https://otonomos.substack.com on October 28, 2021.